Armory Capital Mergers and Acquisitions Summary

Family Office Profile

Armory Capital’s most common sectors for investment aretechnology hardware (29%) and agriculture (15%) . The Firm’s most common investment types include growth capital (58%) and buyout (lbo, mbo, mbi) (29%). In total, Armory Capital has invested in 4 US states.

In the last 3 years, Armory Capital has exited 2 companies. The Firm’s most common exit type is trade sale (100%). Armory Capital’s largest (disclosed) exit occurred in 2020 when it sold FE Moran Security Solutions for $82M.

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M&A Summary

  • M&A Total Activity10
    • M&A Buy Activity7
    • M&A Sell Activity3
  • Total Sectors Invested 6
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 5

Armory Capital LLC

100 West University Avenue, Suite 401,
Champaign, Illinois 61820
United States
(217) 378-4205
www.armorycap.com
jacob.ambrose @ armorycap.com

Armory Capital is a lower middle-market private investment firm. Armory looks to invest $10 to $50 million in growth companies with at least $10 million in revenues. Target transaction situations include management buyouts, shareholder liquidity needs, ownership transitions, and growth capital financings. Sectors of interest include agriculture, business services, consumer products, financial services, healthcare services, manufacturing, media, and transportation. Armory Capital was formed in 2009 and is based in Champaign, Illinois.


Investment Criteria

Sectors of Interest: Agriculture, Business Services, Consumer Products, Distribution, Financial Services, Healthcare Services, Information Technology, Internet Software and Services, Manufacturing, Media, Plastics, Technology Hardware, Transportation

Target Transaction Types: Buyout (LBO, MBO, MBI), Growth Capital, Recapitalization

Geographic Preferences: East US, Midwest US, South US, West US

Transaction Criteria Min Max
Target Revenue 10 -
Target EBITDA 2 -
Investment Size 10 50
Enterprise Value - -
values in millions of USD

M&A Summary

Buy vs Sell

Year ≤ '19 '20 '21 '22 '23 '24 T
Buy (0.0/yr) # 7 - - - - - 7
Sell (0.6/yr) # - 1 2 - - - 3
vol $82M $82M
  10

Most Recent M&A

Company Date Value Type
Envisage Technologies LLC 2021-09-08 - Trade Sale
Bloomington, Indiana · www.envisagenow.com
MicroD LLC 2021-08-31 - Trade Sale
Charlotte, North Carolina · www.microdinc.com
FE Moran Security Solutions 2020-12-16 82M USD Trade Sale
Champaign, Illinois · www.femoransecurity.com
Illinois Foundation Seeds, Inc. 2017-05-19 - Growth Capital
Tolono, Illinois · www.ifsi.com
MicroD LLC 2016-09-20 - Growth Capital
Charlotte, North Carolina · www.microdinc.com
FE Moran Security Solutions 2016-01-06 - Growth Capital
Champaign, Illinois · www.femoransecurity.com
Envisage Technologies LLC 2014-10-06 - Growth Capital
Bloomington, Indiana · www.envisagenow.com
Horizon Hobby LLC 2014-03-05 - Buyout (LBO, MBO, MBI)
Champaign, Illinois · www.horizonhobby.com
Jim's Formal Wear LLC 2012-12-21 - Buyout (LBO, MBO, MBI)
Trenton, Illinois · www.jimsformalwear.com
Imperial Plastics, Inc. 2012-07-01 - Recapitalization
Lakeville, Minnesota · www.imperialplastics.com
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Technology Hardware 1 (33%) - 2 (29%) -
Agriculture 1 (33%) - 1 (14%) -
Distribution 1 (33%) - 1 (14%) -
Information Technology - - 1 (14%) -
Internet Software and Services - - 1 (14%) -
Plastics - - 1 (14%) -
Total 3 - 7 -

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 3 (100%) - 7 (100%) -
  Illinois 3 (100%) - 4 (57%) -
  Minnesota - - 1 (14%) -
  Indiana - - 1 (14%) -
  North Carolina - - 1 (14%) -
Total 3 - 7 -

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 1 (33%) - 4 (57%) -
Buyout (LBO, MBO, MBI) 2 (67%) - 2 (29%) -
Recapitalization - - 1 (14%) -
Total 3 - 7 -

Exits by Deal Type

Type Total # Value
Trade Sale 2 (67%) -
Trade Sale - Public Company 1 (33%) 82M (100%)
Total 3 $82M

Deal Values

sell # Total
< $100M 1 $82M
TOTAL $82M
Largest FE Moran Security Solutions
$82M (2020-12-16)

M&A Connections

Deals
Exited to
Strategic(s)
100%
3 (100%)

Investor Summary

Investor Type

Family Office

Size

Small

Established

2009

Specialist/Generalist

Generalist

Leadership

Jacob Ambrose

Co-Founder & Managing Partner

Greg Lykins

Co-Founder & Partner

Rusty Freeland

Co-Founder & Partner

FAQ

When was Armory Capital LLC founded?

Armory Capital LLC was founded in 2009.

What type of investor is Armory Capital LLC?

Armory Capital LLC is a family office.

Where is Armory Capital LLC headquartered?

Armory Capital LLC is headquartered in Champaign, Illinois.

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